201 Spear Street-Deed In Lieu

201 Spear Street , San Francisco, CA 94105

Property Overview

Deed In Lieu as of January 10, 2024.

On December 29, 2023, the Spear Street Borrower, and the lender of the 201 Spear Street Mortgage Loan (the “Spear Street Lender”) entered a deed-in-lieu of foreclosure transaction (the “Deed-in-Lieu Transaction”). Pursuant to the Deed-in-Lieu Transaction, the Spear Street Lender has the right to transfer title to the 201 Spear Street property to itself or its designee for up to a six-month period ending June 15, 2024. https://www.sec.gov/ix?doc=/Archives/edgar/data/1482430/000148243024000003/kbsriii-20231114.htm

201 Spear Street is an office tower located on the waterfront within San Francisco’s South Financial District. The property contains 252,591 rentable square feet and is situated in what is one of the nation’s top-performing office markets.

The property is proximate to everything downtown San Francisco has to offer, including being just two blocks from the new $4.2 billion Transbay Terminal project, Market Street (and BART access), the recently revitalized Embarcadero promenade, the iconic Ferry Building and a number of the most impressive new high-rise residential towers in the country.

Investment at a Glance

Location: San Francisco, CA

Property Type: Class A Office

Acquisition Date: December 3, 2013

Purchase Price: $121,000,000

No. of Buildings: 1

No. of Stories: 18

Square Footage: 246,563 SF

Year Built: 1984

Leased Percentage (at the time of Acquisition): 82%

$121,000,000 Total Purchase Price
252,591 square feet Total Rentable Area
Class A Building Class